MOSCOW (Reuters) -Russia on Sunday suspended until May a reduction in the fuel damper payment subsidy to oil refineries, Russian news agencies reported. The damper is a payment to refineries to
Russia Postpones Fuel Damper Payment Subsidy Reduction Until May
Overview of Fuel Damper Payment Changes
MOSCOW (Reuters) -Russia on Sunday suspended until May a reduction in the fuel damper payment subsidy to oil refineries, Russian news agencies reported.
Purpose of the Fuel Damper
The damper is a payment to refineries to encourage them to sell their product on the domestic market instead of exporting it for a higher price.
Details of the Kremlin Decree
According to a Kremlin decree published on Sunday, the fuel damper payment will be calculated without the inclusion of a deviation threshold for gasoline and diesel from October 1 to May 1.
Excise Duty Exemption for Winter Fuel Oil
The decree also exempted from excise duty the production of winter fuel oil by means of mixing its other varieties with jet fuel outside oil refineries.
(Writing by Lucy Papachristou; editing by Guy Faulconbridge)
